Simmons Gainsford Chartered Accountants Inheritance Tax Mitigation Techniques

Inheritance Tax Mitigation Techniques

Posted on 6th Jan 2011

Following an announcement in the Budget this year, it is now known that there are no plans alter the inheritance tax nil rate band (currently £325,000) in the life of the current Government. This is a far cry from the erstwhile pre-2010 General Election policy...[more]

Inheritance Tax and Capital Gains Tax…

Posted on 6th Jan 2011

Because farmland enjoys generous reliefs from inheritance tax, HMRC examines all such claims very carefully. As a result there has been a succession of appeals to the tax tribunals concerning agricultural property relief in recent years, although there have been notable successes by both taxpayers...[more]

How to Save Tax With a…

Posted on 6th Jan 2011

The purpose of this Memorandum is to explain the advantages and disadvantages of self-invested personal pension schemes (SIPPs). What is a SIPP? A SIPP is a money purchase personal pension scheme. The usual pension scheme benefits of a tax free lump sum (generally 25% of...[more]

Going Non-Resident

Posted on 6th Jan 2011

To read our latest update on this topic please have a look here   HMRC is continuing to take an aggressive stance regarding residence issues, both for those who wish to lose their UK residence tax status and those who come to the UK to...[more]

Entrepreneurs' Relief

Posted on 6th Jan 2011

In this Memorandum we highlight one of the most important capital gains tax (‘CGT’) provisions, the so-called “entrepreneurs’ relief” applying to some – but by no means all - business transactions. What is Entrepreneurs Relief? Entrepreneurs’ relief is a tax provision which singles out for...[more]

Employee Shares in Private Companies

Posted on 6th Jan 2011

One of the best incentives which can be offered to key staff in a private company is a shareholding in the company.  This is the ideal method to give them a stake in the business and a share in the results of it.  It also...[more]

Current Benefits of Ssas Pension Schemes

Posted on 6th Jan 2011

The purpose of this Memorandum is to explain the workings of SSASs - Small Self Administered Schemes. What is a SSAS? A SSAS is a money purchase company pension scheme. The usual pension scheme benefits of a tax free lump sum (generally 25% of the...[more]

Capital Tax Planning for Property Investment…

Posted on 6th Jan 2011

Property investment has traditionally in the United Kingdom been an attractive investment media in the combined context of endemic inflation and economic growth. Accordingly, for those who have sufficient funds, investment properties, whether let to commercial tenants or as private residences, will usually provide good...[more]

Capital Gains for Individuals

Posted on 6th Jan 2011

Capital gains tax for individuals was introduced in the UK in 1962.  It was originally a limited tax on short-term gains.  However, it was widened considerably in 1965 to cover virtually all gains of a capital nature.  There have been a number of changes announced...[more]

Business Taxation: Allowances for Equipment Purchases…

Posted on 6th Jan 2011

The expenditure which any business incurs on buying new capital equipment, plant or machinery cannot normally be deducted from profits as a business expense in the same way that, for example, staff salaries or travel costs are deducted. Instead, expenditure on equipment and the like...[more]

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